Thursday, January 15, 2015 9:09:29 AM
Do you really think the SEC cares about the shareholders of a sub one-tenth of a penny, unlisted, stock? Really? They don't. They have insufficient resources for mid-cap and larger companies. They can't and won't get involved in the back alleys that are these sub-penny stocks. They just say they involve a tremendous amount of risk, and you should invest very carefully, and from there, everyone is at their own peril.
And how is the reverse split justified? A majority of the shareholders voted in favor of it. Why? Insiders hold a majority, and they all voted for it, so they could sell more stock to maintain their lavish salaries. The reverse split is not done to benefit the shareholders. Just the opposite. From the outset, this company was run to benefit the insiders and their buddies, not the shareholders.
The scammers are the insiders, and no regulator cares. Period. Sell your stock. Take your losses. Learn your lessons. There's no hope here. None.
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